North American businesses will be able to turn mobile devices into contactless payment devices following a Phos partnership with Elavon.
Phos, the software-only point of sale (SoftPoS) provider for businesses, has partnered with global acquirer Elavon to launch a ‘Tap to Pay’ solution in North America. The solution will enable independent sales organisations (ISOs) and Independent Software Vendors (ISVs) in both the US and Canada to turn mobile devices into contactless payment terminals.
The deal comes with an estimated total of 64 million merchants in the US that do not accept card payments. Phos announced that it intends to further expand in the market to improve potential revenue for businesses in the region. It found that existing payment options are unaffordable for a number of underserved businesses.
SoftPoS provider Phos found a significant reliance on legacy technology across North America. This paired with a lack of affordable alternative options has reduced the number of payment options for customers. The problem also causes a reduction in the potential revenue for businesses in the region. Phos’ ‘Tap to Pay’ solution removes the need for traditional POS chip and pin machines to tackle existing issues.
The partnership will also enable existing Elavon partners to expand their payment acceptance options. Partners will now be able to include a range of contactless acceptance solutions.
The Tap to Pay solution
ISOs will be able to accept card payments using only an NFC-enabled smartphone or tablet. The solution is secure for both vendors and consumers and offers a contactless solution to maximise revenue. The solution can be embedded into other applications without requiring any additional hardware.
Ensuring the solution is accessible to as many merchants as possible, vendors can continue to use existing applications alongside the solution. A number of app-app and web-app integration options are also available.
Brad Hyett, CEO of Phos, gave his view on the partnership. He said: “We’ve been at the heart of the contactless revolution in Europe, so we’re pleased to have selected Elavon to bring our innovative softPoS technology to merchants across the United States and Canada.
“We’re excited to work with the first ISOs in the North American region interested in deploying software point of sale technology and equipping them with a solution that works across a range of devices and mobile operating systems. Our partnership with Elavon will be the first of many in the North American market, with additional acquirer connections planned over the coming months to help us reach more merchants across the region.”
Phos now has 14 certified acquirer connections worldwide. The company plans to increase the number of these partnerships to provide the solution across all markets. The company explained that it will announce more acquiring certifications before the end of 2022.